|Loveland's Independent News Source
|Massive Public Subsidies Planned
for Bass Pro Shops
| Bass Pro Shops
High and Dry
Below is an excerpt from the Atlantic Cities
article regarding public financing of Bass
Pro Shops and Cabela's
"It’s not like folks suddenly have more
money to spend on hip waders once a
Cabela's opens up. What generally
happens is that instead of buying those
hip waders from an independent
business, they go to big box store," says
Leroy of Good Jobs First.
Both Cabela's and Bass Pro have become
extraordinarily adept at getting taxpayers
to pay not only for the bricks and mortar
of their stores but some esoteric related
An 18-acre lake – with a waterfall – was
paid for with part of the $70.6 million in
taxpayer subsidies provided for a Bass
pro development in Independence,
An indoors cypress swamp will be created
in Memphis as part of the $215 million
taxpayers are contributing toward the
renovation of the Pyramid Arena into a
Bass Pro Shop. This includes money the
city plans to spend to provide supporting
infrastructure for the building.
A boardwalk, a town square and street
improvements were part of the $150
million in tax dollars used for a
development in Branson, Missouri, where
a Bass Pro is the anchor tenant.
Stuffed animals have been purchased with
millions of dollars in public funds to adorn
numerous Cabela’s stores in communities
ranging from Lehi, Utah, to Buda, Texas,
to Hamburg, Pennsylvania.
These development deals are not without
risks to the communities that enter into
them. Bass Pro defaulted on its bonds for
its development in Olathe, Kansas. In
Independence, Missouri, the city even
guaranteed the bonds and Bass Pro
defaulted anyway, leaving the city to shell
out $3.5 million to cover a payment last
year on the project.
In both of those communities, the bond
payments were tied to sales taxes
generated by the Bass Pro Shop stores.
When sales fell below the projected
levels, there wasn’t enough money to pay
off the bonds.
|Links to economic studies and
news articles on Bass Pro
Shops Public Subsidies
"Fishing For Taxpayer Cash"
"Bass Pro Shops made a Missourian
a billionaire and left two cities
"Bass Pro Billionaire Building Mega
Stores With Boats and Guns"
"Cities, town giving away money to
Bass Pro Shops and Cabela’s"